Context :
Extract :
Twitter CEO and Co-Founder
Jack Dorsey on Friday announced that he was giving BTC 500 (approximately Rs. 172
crores ) along with American rapper Shawn Corey Carter — famously known
as Jay-Z — to launch a new endowment called Btrust. It will be aimed at funding
Bitcoin development, with initial focus in Africa and India, the executive
said. The latest move by Dorsey comes at a time when the Indian government is
looking for ways to ban
all “private” cryptocurrencies.
Dorsey, 44, took to Twitter to
announce the launch of his Bitcoin endowment Btrust. “It'll be set up as a
blind irrevocable trust, taking zero direction from us,” he said.
He also provided a link to a Google form for as a board member
application. The form also mentioned that the mission of Btrust is to “ make Bitcoin the Internet's
currency.”
“The reason I have so much passion for Bitcoin
is largely because of the model it demonstrates, a foundational Internet
technology that is not controlled or influenced by any single individual or entity,” he
had tweeted. “This is what the Internet wants to be, and
over time, more of it will be.”
Dorsey also in 2018 also mentioned in a media interview that he believed
Bitcoin would once become the world's single currency.
At the same time, the
Indian government is once again planning to ban
Bitcoin and other popular cryptocurrencies in the country. A
bill has been in development with a title “The Cryptocurrency and
Regulation of Official Digital Currency Bill, 2021” to prohibit “all private”
cryptocurrencies, while exploring the possibility of issuing a digital version
of the rupee.
===================================================
MY TAKE :
Ø Last year, Jack Dorsey had refused to attend a
meeting of Parliamentary Committee on IT
Ø Currently, Twitter has dragged its feet on
blocking some accounts spreading FAKE / INFLAMATORY NEWS
Ø Could Dorsey’s BTrust be some clever way
to circumvent the “ proposed “ Indian Law banning Bitcoin ?
Ø Jack is not shying away from declaring his
intention for domination entire world’s FINANCIAL STRUCTURE . Note his words : make Bitcoin the
Internet's currency : considering that all
countries are gradually moving away from CASH CURRENCIES and switching over to
DIGITAL PAYMENTS ( all of which will ride on the backbone of INTERNET )
Ø There is no way he can enter China, which is expected to issue
its own sovereign CRYPTO-CURRENCY soon
Ø He realizes ( and too well from his previous interactions with
the governments ) that INDIA and AFRICA , are SOFT STATES , where bickering
politicians care far more to create obstacles to REFORMS than cooperate for the
benefit of millions of their citizen
Ø We,
in India, may not have any legal recourse to stop BTrust but I hope our
proposed law will ensure that Indian citizen cannot participate in such Trusts or
make any payments / investments in such Trusts , using RUPPEEs or any other
currencies .
Ø Long
term goal of the proposed Indian Sovereign Crypto-Currency ( SARAL = Sovereign And
Rupee Alternate
Legal ) should be to replace all
CASH CURRENCY NOTES, by 2030 ( Sweden is banning CASH from 2023 ).
Ø From
2022 till 2030, from time-to– time, RBI can fix the exchange rate between our
current legal tender RUPEE and SARAL
Related Readings :
Jack
Dorsey and Jay Z invest 500 BTC to make Bitcoin ‘internet’s currency’
LIBRA
: The coming battle of Currencies ? ………………………[ 29 June 2019 ]
LIBRA
: Am I the only one worried ?.............................[ 05 July 2019 ]
Who
is afraid of the Big Bad Wolf ( aka LIBRA ) ?............[ 07 July 2019 ]
Latest
word on LIBRA : though not the last word……………..[ 10 July 2019 ]
Crypto
: Corruption : Corona : China………………………………….[ 17 June 2020 ]
Beijing's
$1.5 Million Digital Yuan Giveaway: China to Airdrop Digital Currency for
Chinese New Year
===================================================
Dear Indian Legislators,
Two years back, it was Facebook which wanted domination
through its ( planned ) LIBRA
Today, it is Twitter with its BTrust
No one should be surprised that tomorrow, Google and Amazon
will come up with something similar, to enable their advertisers to pay them in
their own versions of
Crypto-Currencies
Reason is simple
Hardly a week passes without some or other country
proposing to levy some kind of BIG TECH TAX / EQUALIZATION TAX / PAYMENT for
CONTENT etc for Social Media giants , which are making BILLIONS of dollars of
profit each year, by selling PRIVATE / PERSONAL DATA of their millions of users
They are not going to give-in easily
Through introduction of their own Crypto-Currencies, they
will try and make it as difficult as
possible for the countries to tax them
It is up to us, how we can make them pay ( compensate )
their users for selling their personal data
With regards,
Hemen Parekh / hcp@recruitGuru.com / 13
Feb 2021
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